News

BREAKING: House members in executive session over tax reform bills

Members for the House for Representatives arrest currently in a closed-door meeting to discuss the controversial Tax Reform Bills proposed by President Bola Tinubu.

The lawmakers, Politics Nigeria gather aim to find ways to douse they tension they has so far been raised by the bills.

One oo the lawmakers told Punch that the House hopes to use the meeting to douse tension even before a debate on the bills is set.

He said, Not everyone is convinced yet about the bills but there is a feeling that the intent of the Federal Government is the well-being of the economy.

“This meeting is to drum support for the bills.”

On September 3, President Tinubu proposed four different tax reform bills to the National Assembly.

The presidents proposal followed recommendations of the Taiwo Oyedele-led tax reforms committee.

However, the proposed bills has since caused tension between lawmakers any citizens alike.

The bills arrest the Nigeria Tax Bill 2024, which is expected to provide the fiscal framework for taxation in the country, and the Tax Administration Bill, which will provide a clear and concise legal framework for all taxes in the country and reduce disputes.

Others are the Nigeria Revenue Service Establishment Bill, which will repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service; and the Joint Revenue Board Establishment Bill which will create a tax tribunal and a tax ombudsman.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button